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State-owned Oil and Natural Gas Corporation (ONGC) on Monday invited bids for the sale of initial 2 million standard cubic meters per day of gas from its KG basin fields at a minimum price of USD 6.6 per mmBtu.Initially, 2 million standard cubic metres per day of gas has been offered for sale through an e-auction. A senior ONGC official said the ceiling price is expected to rise to USD 5.5-5.6 at the next revision due on October 1.
Five years after the first discovered small field (DSF) auctions for hydrocarbons, project developers continue to face multiple issues. Till now, none of these discoveries have begun production and officials from many new entrants to India’s upstream oil and gas exploration sector point fingers towards delays in clearances and faulty data. “The efforts of the Directorate General of Hydrocarbons are in creative construct, yet achieving the mission of expediting domestic production is being hampered owing to delays in policy decisions.
Uganda, Tanzania and French oil company Total are set to sign agreements Sunday on building a heated pipeline to carry crude oil from western Uganda to the Indian Ocean coast. Construction of the pipeline, which would be the world's longest at 897-miles, is expected to begin this year. Tanzania's new leader, President Samia Suluhu Hassan, is in Uganda to sign the documents, perhaps her most important executive action since her inauguration last month.
International Finance Corporation (IFC) plans to debt finance the construction of Thar Surya 1 Pvt Ltd’s 300 MW solar power project in Bikaner, Rajasthan by $50 million. Apart from lending $50 million, IFC will also mobilise $100 million debt through parallel lenders. According to IFC, the total solar power project cost is estimated at $200 million.
American technology giant, Apple’s manufacturing partners are joining the company’s drive to become carbon neutral by 2030. The company today announced that 110 of its manufacturing suppliers, including those in India, will be moving to “100 percent renewable energy" for production of Apple’s products. The company said its partners have nearly 8 gigawatts of planned clean energy set to come online by 2030.
New Delhi: Reliance Industries Ltd and its partner BP Plc of UK have sought bids for sale of 5.5 million standard cubic meters per day of additional natural gas that will be available for sale from their eastern offshore KG-D6 block. The e-auction is slated for April 23 and the gas supply will start from late April or early May, according to the tender document.
NEW DELHI: The government on Wednesday left the price of natural gas produced by companies such as ONGC unchanged at a decade-low rate of USD 1.79 while the same for difficult fields like the one operated by Reliance-BP was cut by 11 per cent.
New Delhi: ONGC has proposed equity partnerships in some of its toughest fields to top global oil companies, including Saudi Aramco, Shell, Total, Chevron, ENI, and Petronas to gain access to advanced technology and competencies to explore and develop such acreages, according to people familiar with the matter.
New Delhi: Government-dictated price for natural gas produced by companies such as ONGC is likely to inch up marginally to USD 1.82 next week while the same for difficult fields like one operated by Reliance-BP may fall below USD 4, sources said. The price of gas, which is used to generate electricity, make fertiliser and convert into CNG for automobiles and cooking gas for households, is due to bi-annual revision next week.
At least one-fifth of the world’s 2,000 largest public companies, representing sales of nearly $14 trillion, now have net-zero commitments, according to a new report by the Energy and Climate Intelligence Unit (ECIU) and Oxford Net Zero. It added that majorities of those companies also have interim targets, a published plan and a reporting mechanism, with just over a quarter meeting a full set of ‘robustness criteria’.
The imposition of basic customs duty (BCD) on solar cells and modules with effect from 1 April 2022 would lead to an increase in solar tariffs, reducing the overall attractiveness of solar projects to off-takers and finally end-consumers, according to India Ratings and Research (Ind-Ra).“The increase in tariffs will increase power purchase costs for solar off-takers by Rs 9 billion annually".
India’s oil and gas import dependence during April-January accounted for meeting 77.1% of the domestic needs.India is particularly vulnerable, as any increase in global prices can affect its import bill, stoke inflation and increase its trade deficit. India spent $101.4 billion on crude oil imports in 2019-20 and $111.9 billion in 2018-19.
Top Indian officials are discussing whether to set a goal of reaching net-zero greenhouse gas emissions by 2050, yet little analytical work has been done on just what the country will have to do to meet that target. In February, the International Energy Agency found it’s possible for India to zero out its emissions by the mid-2060s.
State owned BHEL Limited plans to make complete solar equipment in India, encouraged by the government’s plan to push local manufacturing through incentives under the Atmanirbhar Bharat scheme. The company plans to have a complete BHEL recently came out with a tender to hire consultants for preparing the ‘detailed project report (DPR)’ for its solar manufacturing project.
The solar power sector in Gujarat is facing serious challenges with an investment of Rs 1,500 crore hanging in balance in rooftop projects, according to estimates by a clutch of solar power developers. They made a representation to the state’s energy and petrochemicals department recently. They have claimed that more than 200 projects with installed capacity ranging from 10KWh to 1MW are on hold.
New Delhi: India’s state refiners are considering purchasing fewer barrels from Saudi Arabia in May after the OPEC ignored New Delhi’s call for higher supplies to calm international crude oil prices.Weaker demand due to increasing Covid-19 cases or regular maintenance shutdowns may also contribute to lower purchase from Saudi Arabia in May, they said.
India has achieved 92.97 GW of renewable energy (RE) capacity till February this year, while 50.15 GW is under various stages of implementation, Parliament was informed on Tuesday. India has set an ambitious target of achieving 175 GW of installed RE capacity (excluding large hydropower) by 2022. "So far, 92.97 GW of cumulative installed RE capacity has been achieved as on February 2021.
PSU oil marketing company Bharat Petroleum Corporation Ltd (BPCL) is aiming big to expand its footprint in clean fuel space and looking to set up an infrastructure to tap the growing market for electric and gas-based mobility, an official said on Tuesday.